Shares of beverage company Castle Brands (ROX) jumped as much as 11.2% on Thursday following the announcement of a new national television advertising campaign for Gosling's Rum. The stock is up 10.4% at the time of this writing.
Castle Brands said it launched a TV ad campaign that "can be seen on NBCSN during telecasts of Premier League Soccer games and programming, National Hockey League games and programming, and Skiing and Snowboarding competitions, among other sports oriented and targeted telecasts."
The announcement also noted that Gosling's Rum will be the "marquee sponsor" of Premier League Soccer during the December 2017 Manchester Derby.
Gosling-Castle Partners is a strategic global export venture that is 80.1% owned by Castle; CEO Malcolm Gosling said the company went all-in on the commercials, ensuring they are "first class."
The Gosling's brand includes Gosling's Stormy Ginger Beer, which has been seeing significant traction recently. In the company's most recently reported quarter, Gosling's Stormy Ginger Beer case sales were up 37.2% in the first six months of fiscal 2018 compared to the comparable year-ago period. Investors are likely hoping this national ad campaign can help continue this momentum.
Castle said the new campaign will give the brand global exposure and expose Gosling's rums to new demographics.
With its award-winning Gosling's Rum varieties now sold in 20 countries, investors may be betting the national TV campaign will pay off handsomely.